DVI announces higher first quarter fiscal 1995 earnings.IRVINE Irvine, town, Scotland Irvine (ûr`vĭn), town (1991 pop. 32,507), North Ayrshire, SW Scotland, on the Irvine River estuary. Industries include iron and brass foundries. Other products are chemicals, electric goods, and clothing. , Calif.--(BUSINESS WIRE)--Nov. 16, 1994--DVI Inc. (NYSE NYSE See: New York Stock Exchange :DVI (1) (Digital Video Interactive) An earlier compression technique that provided up to 72 minutes of full-screen video on a CD-ROM. Acquired by Intel in 1988 from RCA's Sarnoff Research labs, Princeton, NJ, DVI never caught on. ) Wednesday announced its unaudited results for the first quarter ended Sept. 30, 1994. Finance and other income for the fiscal 1995 quarter increased to $7.2 million from $4.3 million in the prior year. The company's net earnings increased to $513,000 or 8 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. (on 6,725,000 weighted average shares outstanding) in the fiscal 1995 quarter, as compared to $330,000 or 5 cents per share (on 6,618,000 weighted average shares outstanding) for the fiscal 1994 quarter. David Higgins
David Roger Higgins (September 11, 1938 - August 13, 2006) was a composer and choral conductor. , DVI's chairman and chief executive officer, stated that in addition to the earnings increase, the company's loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. volume during the quarter increased to $51.8 million from $35.7 million in the prior year, and DVI's portfolio of financed assets rose to $329.1 million from $172.8 million for the corresponding period in the prior year. He said that originating $51.8 million in new financing transactions during the quarter was a record amount for DVI. Higgins also said that during the quarter the company continued to make changes that management believes will further increase loan origination volume, and improve DVI's operating efficiency and ability to service its growing transaction portfolio. DVI is a leading independent source of equipment financing and related services for the medical industry. -0-
DVI Inc.
Financial Results
(unaudited)
Quarter Ended
Sept. 30,
1994 1993
Finance and Other Income $7,197,000 $4,263,00
Earnings Before Provision For
Income Taxes and Equity In Net
Loss of Investees 885,000 634,000
Provision For Income Taxes 372,000 266,000
Equity in Net Loss Of Investees -- (38,000)
Net Earnings $ 513,000 $ 330,000
Net Earnings Per Common and
Common Equivalent Shares 8 cents 5 cents
Weighted Average Number of Common
And Common Equivalent Shares
Outstanding 6,725,000 6,618,000
CONTACT: DVI Inc., Irvine Sheila Sheila is a common given name for a female, taken from the Gaelic name Síle/Sìle, which is believed to be a Gaelic form of Julia or Cecilia. Like "Cecil" or "Cecilia", the name means "Smart and Wise", from the Latin caecus. Chiri, 714/474-5883 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion